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May 25, 2022

HDI International to pay $311m for retail arm of Sompo Seguros

Talanx Group subsidiary HDI International has brokered a deal to acquire retail operations of Sompo Seguros in a deal valued at $311.45m (BLR1.05bn).

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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The acquisition is part of HDI’s effort to bolster its operations in the Brazilian market by scaling its existing business and entering new lines of business such as non-motor P&C and life protection.

Germany’s HDI operates in Brazil via HDI Seguros, which employs 1,300 people, with a focus on the motor insurance market.

The deal is expected to rank HDI Seguros seventh and fourth in the P&C and motor insurance market respectively, with its gross written premiums growing to €860m (BLR5.5bn) from €280m (BLR1.8bn).

Talanx Board Member and HDI International CEO Wilm Langenbach said: “This acquisition enables us to continue our success story in Brazil which is the largest insurance market in Latin America with significant profitable growth potential in the mid-and long-term.”

HDI International head of LATAM Nicolas Masjuan said: “The acquisition in our core market Brazil strengthens our market position in some key regions in Brazil, especially in São Paulo, the country’s largest city, and diversifies our portfolio into Life Protection as well as gaining scale in Residential & Property.”

Sompo Seguros, which is part of Sompo International, operates in retail insurance and industrial lines.

For Sompo, the deal is aimed at reorienting the industrial lines business in Brazil by spinning off the retail business into a new arm and selling it to HDI.

Sompo said: “This strategic change supports Sompo International’s goals of expanding in new and existing geographies, delivering a consistent market approach across all lines of business and strengthening the strategic alignment across Sompo International geographies globally.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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